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US drought threatens food price surge
Anonymous Kritter Show this Post
08-11-2012, 03:00 AM #1
Anonymous Kritter Incognito Anonymous
 
http://www.ft.com/cms/s/0/e37a491a-e2e1-...ab49a.html

Quote:The worst drought in the US in at least half a century has destroyed one-sixth of the country’s expected corn crop in a month threatening a surge in global food price inflation.

The US government estimated corn farmers had abandoned fields greater in area than Belgium and Luxembourg after the hottest July in US history irreparably damaged their crops. The harvest for soyabeans, largely crushed into animal feed and vegetable oil, would be the lowest in five years.

The US Department of Agriculture forecast prices for the two crops would break records, with domestic corn averaging between $7.50 and $8.90 per bushel after this year’s harvest starts. On the Chicago Board of Trade, corn futures jumped 3.1 per cent Friday to an all-time high of $8.43¾ before slipping.

“We’re going to see very high prices,” said Joseph Glauber, USDA chief economist.

The failure of the US corn crop will hit the world’s food manufacturers, including Nestlé, Kraft, and Tyson, who have already warned that they will pass on higher prices to consumers.

we're screwed.
08-11-2012, 03:02 AM #2
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
I think Canada has a bumper crop this year. Perhaps they will share. chuckle.gif

Biere.
08-11-2012, 03:07 AM #3
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,276 Threads:1,438 Joined:Feb 2011
...blonde.gif
:fuckineh:

It's going to be okay, we can eat their grains but can't have access to inexpensive Canadian drugs because "they may be dangerous". coffeetime.gif

wonder.gif
08-11-2012, 03:10 AM #4
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
chuckle.gif, yeah, the same drugs USA firms export to Canada at lower prices, than they sell at here. gaah.gif

Biere.
08-11-2012, 03:14 AM #5
UniqueStranger Art in my heart
Posts:14,881 Threads:420 Joined:Jun 2012
This quote about sums it up.

“The bad thing about farming – and the same as stock markets – is somebody has to get hurt for the next guy to benefit,” he says. “You don’t like to see anyone get hurt, but it is a game you gotta play. Next year that could be me.”

http://www.theglobeandmail.com/report-on...cmpid=rss1
08-11-2012, 03:15 AM #6
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
(08-11-2012, 03:14 AM)UniqueStranger Wrote:  This quote about sums it up.

“The bad thing about farming – and the same as stock markets – is somebody has to get hurt for the next guy to benefit,” he says. “You don’t like to see anyone get hurt, but it is a game you gotta play. Next year that could be me.”

http://www.theglobeandmail.com/report-on...cmpid=rss1


Good find. hi5.gif

Biere.
08-11-2012, 03:16 AM #7
Octo Mother Superior
Posts:42,590 Threads:1,469 Joined:Feb 2011
Does this mean Canada controls the weather? spock.gif

Funny thing is there's a bad harvest everywhere but Canada. We had a normal summer, but the biggest producers of potatoes around here for instance suffered floods and all sorts of shït. And we're in the middle of that!

Yeah I'm sure coastline features and stuff like that counts, but when the largest food producers in the world are targeted by bad weather simultaneously I tend to get a tad suspicious, especially with thoughts like this:


Weather as a force multiplier
http://csat.au.af.mil/2025/volume3/vol3ch15.pdf

08-11-2012, 03:18 AM #8
UniqueStranger Art in my heart
Posts:14,881 Threads:420 Joined:Jun 2012
Canada controls nadda. 13.gif beerbong.gif
08-11-2012, 03:19 AM #9
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
65% of the NHL players come from Canada.

Biere.
08-11-2012, 03:20 AM #10
Octo Mother Superior
Posts:42,590 Threads:1,469 Joined:Feb 2011
beerbong.gif
(08-11-2012, 03:18 AM)UniqueStranger Wrote:  Canada controls nadda. 13.gif beerbong.gif


You control hockey slap.gif
08-11-2012, 03:21 AM #11
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,276 Threads:1,438 Joined:Feb 2011
Oh yeah, Can nada. I get it now. chuckle.gif

wonder.gif
08-11-2012, 03:21 AM #12
UniqueStranger Art in my heart
Posts:14,881 Threads:420 Joined:Jun 2012
(08-11-2012, 03:21 AM)JayRodney Wrote:  Oh yeah, Can nada. I get it now. chuckle.gif


Really witty. chuckle.gif
08-11-2012, 03:22 AM #13
UniqueStranger Art in my heart
Posts:14,881 Threads:420 Joined:Jun 2012
(08-11-2012, 03:20 AM)Octo Wrote:  beerbong.gif
(08-11-2012, 03:18 AM)UniqueStranger Wrote:  Canada controls nadda. 13.gif beerbong.gif


You control hockey slap.gif


Hockey controls us. chuckle.gif
08-11-2012, 03:26 AM #14
Octo Mother Superior
Posts:42,590 Threads:1,469 Joined:Feb 2011
Yeah I believe you vic.gif


chuckle.gif
08-11-2012, 03:33 AM #15
UniqueStranger Art in my heart
Posts:14,881 Threads:420 Joined:Jun 2012
Let the hockey fights begin. 3beers.gif



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